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July 20, 2006

Bezos invests in Chicago startup

Posted by Kim Peterson at 1:44 PM

Amazon.com Chief Executive Jeff Bezos has made a private investment in 37Signals, the company announced in its blog today. The funding is actually through Bezos' personal investment company, Bezos Expeditions.

The Chicago-based company makes Web-based applications such as the project management program Basecamp and the personal organizer Backpack.

In the blog posting, 37Signals founder Jason Fried says the company has been contacted by about 30 venture capital firms, but was more interested in what someone like Bezos could bring to the table:

What we've been looking for is the wisdom of a very special entrepreneur who's been through what we're going through. Someone who sees things a little differently and makes us feel right at home. Someone with a long term outlook, not a build-to-flip mentality. We found a perfect match in Jeff. Jeff is our kinda guy.

(Via Om Malik.)

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